Bordes, Jr. v. Deveaux

CourtDistrict Court, S.D. New York
DecidedFebruary 26, 2025
Docket1:23-cv-07430
StatusUnknown

This text of Bordes, Jr. v. Deveaux (Bordes, Jr. v. Deveaux) is published on Counsel Stack Legal Research, covering District Court, S.D. New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Bordes, Jr. v. Deveaux, (S.D.N.Y. 2025).

Opinion

UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK -----------------------------------------------------------------X PETER BORDES, JR.,

Plaintiff, REPORT & RECOMMENDATION -against- 23-CV-7430 (JPC) (JW) MARC DEVEAUX,

Defendant. -----------------------------------------------------------------X JENNIFER E. WILLIS, United States Magistrate Judge: To the Honorable JOHN P. CRONAN, United States District Judge: BACKGROUND The instant case was referred to the Court for general pretrial matters and dispositive motions. Dkt. No. 33. Dueling motions for summary judgment are currently before the Court. Dkt. No. 37, 38. Plaintiff Peter Bordes, Jr. (“Plaintiff”) alleges that defendant Marc Deveaux (“Defendant”) defamed him on the website LinkedIn. Dkt. No. 4, at 4-5. Defendant, in his motion for summary judgment, asks the Court to dismiss all of Plaintiff’s claims. Dkt. No. 37, Attach. 11, at 1. Plaintiff, in his partial motion for summary judgment, asks the Court to find in his favor with regards to only his libel per se claims. Dkt. No. 38, Attach. 1, at 1. For the following reasons it is recommended that Defendant’s motion for summary judgment be GRANTED and Plaintiff’s motion for summary judgment be DENIED. FACTS1 Plaintiff is an investor and sits on the board of several companies, both private and publicly traded, and many of them are focused on artificial intelligence (“AI”). Dkt. No. 38, Attach. 2, at 2. Plaintiff was an initial investor and board member of a cryptocurrency trading firm called Qandlestick, LLC (“Qandlestick”). Dkt. No. 38, Attach. 3, at 2. Defendant and Plaintiff met in October 2018 to discuss “a potential

business venture.” Dkt. No. 38, Attach. 5, at 33. That meeting led to Defendant joining Qandlestick as the Chief Technology Officer, where he developed a product that provided “a way to view cryptocurrency prices across different exchanges.” Dkt. No. 38, Attach. 5, at 33. In 2021, Qandlestick was acquired by Fernhill Corp. (“Fernhill”), a financial services firm that Plaintiff was also a board member of. Dkt. No. 38, Attach. 4, at 14;

Dkt. No. 38, Attach. 2, at 2. As part of the acquisition, the parties both became minority shareholders of Fernhill. Dkt. No. 38, Attach. 2, at 3; Dkt. No. 38, Attach. 4, at 2. Defendant worked for Fernhill, under its newly acquired Qandlestick division. Dkt. No. 38, Attach. 4, at 19. After several years, Defendant and Fernhill parted ways, though the parties disagree about when, how, and why. According to Defendant, he resigned from Fernhill and left October 31, 2022. Id. According to Plaintiff, Fernhill

1 The facts are drawn from the parties’ statements of undisputed facts as well as the exhibits attached to their summary judgment motions. Additionally, the Court presumes familiarity with the facts of this action and only states those necessary to resolve the instant motion. 2 terminated Defendant around January 4, 2023 for violating the non-compete clause of his employment contract. Dkt. No. 38, Attach. 5, at 117. In February 2023, Defendant filed a suit in this District alleging that Plaintiff withheld wages he earned between December 2020 and January 2022, in violation of New Jersey’s Wage Payment Law. Id.; Deveaux v. Bordes, No. 23-cv-1115 (AT), ECF No. 5 (S.D.N.Y. Feb. 10, 2023); N.J. STAT. ANN. 34:11-4.1.

While Defendant’s lawsuit against Plaintiff was pending, Defendant submitted a complaint about Fernhill to the United States Securities and Exchange Commission (“SEC”) on August 16, 2023. Dkt. No. 37, Attach. 4, at 1; Dkt. No. 38, Attach. 7, at 1. In Defendant’s complaint to the SEC, he alleged that those controlling Fernhill had the “[c]ompany written off [as] part of [a] promissory note ($825,000) and an escrow account ($150,000), and cancelled all interest due (~$100,000), under the guise of debt

restructuring. However, [they] did not approach the note holders, or get their agreement.” Id. The most relevant fact for the instant case occurred four days after Defendant submitted his complaint to the SEC. On August 20, 2023, Defendant posted three comments to three different posts on the website LinkedIn.2 “Peter Bordes is currently being sued for Wage Theft.” “Peter Bordes’ company reported to SEC for Accounting Fraud.”

2 Self-described as the “the world’s largest professional network,” LinkedIn has “more than 1 billion members in more than 200 countries and territories worldwide.” ABOUT LINKEDIN, https://about.linkedin.com (last visited Feb. 6, 2025). 3 “Peter Doo-Doo head, know shit about AI.” Dkt. No. 38, Attach. 9, Ex. A, at 1; Id., Attach 4, at 12; Id., Attach. 5, at 85. The “Wage Theft” comment was made on a post made by Plaintiff promoting an interview he had done with CNBC about AI. Dkt. No. 38, Attach. 9, at 7. The “Accounting Fraud” comment was made on a post promoting an AI platform that can detect financial fraud called Fraud.net3. Id. The “AI” comment was made on a post written by Plaintiff

sharing his thoughts on AI’s effect on the job market. Id. Shortly thereafter, three people, who saw Defendant’s comments, reached out to Plaintiff to inform him. Dkt. No. 38, Attach. 10, at 4. Plaintiff subsequently had “trouble sleeping” for “many” nights “from stress and anxiety about [his] reputation,” one he had worked “a long time to build up.” Dkt. No. 40, Attach. 1, at 1. Two days after those comments were posted, on August 22, 2023, Plaintiff filed

the initial complaint for the instant case. Dkt. No. 1. The Complaint alleges three claims against Defendant – libel per se, libel per quod, and intentional infliction of emotional distress (“IIED”). Dkt. No. 4, 4-6. Defendant deleted the comments several days after Plaintiff filed the initial complaint. Dkt. No. 38, Attach. 5, at 85-86; Dkt. No. 40, Attach. 1, at 3-4. An amended complaint was filed in the instant case on August 29, 2023. Dkt. No. 4. In the instant case, discovery ended in June 2024 and the parties filed their

dueling motions for summary judgment in July 2024. Plaintiff’s motion for summary

3 Plaintiff also sits on the board of Fraud.net, which provides an “AI-powered platform for finance and technology companies to detect various forms of financial fraud.” Dkt. No. 38, Attach. 2, at 2. 4 judgment in Defendant’s case concerning wages was subsequently granted and that case was dismissed on September 10, 2024. Deveaux v. Bordes, No. 23-cv-1115 (AT), 2024 WL 4135257 (S.D.N.Y. Sept. 10, 2024).

LEGAL STANDARD I. Summary Judgment Under Federal Rule of Civil Procedure 56, a court “shall grant summary judgment if the movant shows that there is no genuine dispute as to any material fact and the moving party is entitled to judgment as a matter of law.” Fed. R. Civ. P. 56(a). There is a “genuine dispute” when a reasonable jury could return a verdict for

the nonmoving party. Guillen v. City of New York, No. 19-cv-5655 (JPC), 625 F. Supp. 3d 139, 148 (S.D.N.Y. 2022). A fact is “material” if it may affect the outcome of a suit under the applicable law.” Konikoff v. Prudential Ins. Co. of Am., 234 F.3d 92, 97 (2d Cir. 2000). A court must view the facts in the light most favorable to the non-moving party and draw all reasonable inferences in its favor. Allen v. Coughlin, 64 F.3d 77, 79 (2d Cir. 1995) (citation omitted). The movant bears the initial burden of demonstrating that there is no genuine

issue of material fact. Celotex Corp. v. Catrett, 477 U.S. 317, 323, 106 S.Ct. 2548, 91 L.Ed.2d 265 (1986).

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